Connect with us

Technology

Vehicle Leasing Market in Europe to Grow by USD 12.17 Billion (2024-2028), Driven by Cost-Effective Vehicle Access, with Market Evolution Powered by AI – Technavio

Published

on

NEW YORK, Nov. 19, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The vehicle leasing market in europe  size is estimated to grow by USD 12.17 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.5%  during the forecast period. Cost-effective ways of obtaining vehicle is driving market growth, with a trend towards rise in demand for leasing evs to optimize vehicle performance and reduce emissions globally. However, challenge posed by on-demand taxi operators  poses a challenge.Key market players include ALD SA, Allane SE, Arval Service Lease, Bayerische Motoren Werke AG, Central Contract S.O.T Ltd., Central UK Vehicle Leasing Ltd., Deutsche Leasing AG, ExpatRide International Inc., Groupe BPCE, King and Mayr GmbH and Co. KG, LocautoRent S.p.A., Mercedes Benz Group AG, Millennium Leasing sp zoo, PKO Bank Polski, Porsche Automobil Holding SE, PSA Automobiles SA, Rivervale Cars Ltd., Sofina SA, and Stellantis NV.

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Passenger cars and Commercial vehicles), Mode Of Booking (Online and Offline), and Geography (Europe)

Region Covered

Europe

Key companies profiled

ALD SA, Allane SE, Arval Service Lease, Bayerische Motoren Werke AG, Central Contract S.O.T Ltd., Central UK Vehicle Leasing Ltd., Deutsche Leasing AG, ExpatRide International Inc., Groupe BPCE, King and Mayr GmbH and Co. KG, LocautoRent S.p.A., Mercedes Benz Group AG, Millennium Leasing sp zoo, PKO Bank Polski, Porsche Automobil Holding SE, PSA Automobiles SA, Rivervale Cars Ltd., Sofina SA, and Stellantis NV

Key Market Trends Fueling Growth

The European vehicle leasing market is experiencing significant trends, with electric vehicles (EVs) leading the charge. E-commerce platforms are transforming the way people lease cars, enabling easy access to leasing companies and their offerings. Big data and IoT technology are revolutionizing the industry, providing real-time diagnostic data for efficient vehicle management. Blockchain technology ensures secure and verified data exchange between sellers and buyers. Customer service is a priority, with automobile leasing companies focusing on providing excellent service to meet the needs of the tourism industry, smart cities, and corporate fleets. Utility trailers, commuter cars, buses, recreational vehicles, and even lease contracts for car equipment rental are available. Finance leasing, mobility solutions, and long-term leasing are popular options. Awareness among consumers about the benefits of EVs, hybrid electric vehicles, and low maintenance vehicles is growing. Rapid urbanization, busy lifestyles, and population demand call for efficient transportation systems to combat traffic congestion. Lease cars without driver facilities are on-demand, reducing traveling time and air pollution. Emission norms and carbon emissions are crucial concerns, with IoT technology and machine learning helping to monitor and reduce them. Additional fees, such as gap insurance, are common considerations in the leasing process. The used car industry is also adapting to these trends, with e-commerce platforms and finance leasing options available. The future of vehicle leasing is bright, with a focus on sustainability, convenience, and cost-effectiveness. 

The European vehicle leasing market is witnessing significant growth due to the increasing popularity of Electric Vehicles (EVs). EVs utilize an electric motor, which features only one moving part, leading to reduced maintenance costs compared to Internal Combustion Engine (ICE) vehicles. The compact electric motor also contributes to the vehicle’s weight reduction, allowing for additional features. The efficiency of the electric motor, with its absence of multiple moving parts, delivers instant torque and high performance. Regenerative braking further enhances the vehicle’s range. Air pollution is a pressing concern in political and economic circles, making the environmental benefits of EVs an attractive proposition for businesses leasing vehicles. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The European vehicle leasing market faces several challenges in the current business landscape. Electric vehicles are gaining popularity, requiring leasing companies to adapt to the changing technology and consumer preferences. E-commerce platforms are disrupting traditional sales models, necessitating innovative strategies. Big data and IoT technology are transforming the industry, offering opportunities for improved customer service and real-time vehicle diagnostics. The tourism industry, smart cities, and utility trailers present new markets for automobile leasing companies. However, challenges persist in sectors like commuter cars, buses, and recreational vehicles due to increasing competition and changing consumer behavior. Lease contracts, finance leasing, and mobility solutions continue to be key areas of focus. Awareness among consumers about electric cars, hybrid electric vehicles, and the used car industry is crucial. Rapid urbanization, busy lifestyles, and population demand call for efficient transportation systems to mitigate traffic congestion. Leasing companies must address challenges like residual value, gap insurance, long-term leasing, and additional fees. Carbon emissions and climate change are pressing concerns, with emission norms and verified data playing a significant role. Blockchain technology and machine learning can streamline processes and enhance transparency. Collaboration between sellers, buyers, and leasing companies is essential to meet the evolving needs of the market.In Europe, urban areas witness significant demand for on-demand taxi services due to the convenience they offer in terms of time and cost. Parking spaces are scarce in congested urban areas, making finding a parking spot a challenge. Traffic congestion further complicates driving in cities, making on-demand taxis an attractive alternative to car leasing. This trend is particularly noticeable in urban regions where car leasing services are readily available. As a result, the growing popularity of on-demand taxis is impacting the demand for car leasing in Europe.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This vehicle leasing market in Europe report extensively covers market segmentation by

Type 1.1 Passenger cars1.2 Commercial vehiclesMode Of Booking2.1 Online2.2 OfflineGeography 3.1 Europe

1.1 Passenger cars-  The European vehicle leasing market is experiencing significant growth due to the cost-effective nature of leasing cars compared to buying them. Factors such as urbanization and increased Internet penetration are driving awareness about car leasing. Leasing offers customers the flexibility to upgrade to new models and purchase the vehicle at lease end. Car manufacturers, like AB Volvo with Care by Volvo, offer subscription-based leasing programs to boost revenue and brand penetration. The demand for SUVs, hatchbacks, and sedans in Europe is fueling growth in the passenger car segment. Customers’ preference for convenience, safety, and modern technologies in vehicles is driving the adoption of advanced features and electrification. These trends, coupled with industry advancements, encourage customers to lease cars, leading to market expansion in Europe’s passenger car segment during the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The European vehicle leasing market is experiencing significant growth, driven by the shift towards electric and hybrid electric vehicles. E-commerce platforms are increasingly becoming popular channels for buyers to lease new cars, enabling a seamless and convenient experience. Big data and blockchain technology are transforming the industry by providing insights into customer preferences and streamlining lease contracts. The tourism industry and smart cities are major sectors adopting vehicle leasing for their fleet needs. Automobile leasing companies offer a range of options from commuter cars to buses, recreational vehicles, and utility trailers. Car equipment rental is another growing segment, allowing lessees to customize their vehicles. The residual value of leased vehicles is a key consideration for both sellers and buyers, making the role of a leasing company crucial in determining fair market value. Rapid urbanization and the need for new vehicles continue to fuel the demand for leasing solutions.

Market Research Overview

The European vehicle leasing market is experiencing significant growth, driven by various factors including the rise of electric vehicles, e-commerce, and smart cities. Electric cars and hybrid electric vehicles are becoming increasingly popular due to awareness among consumers about air pollution and emission norms. The tourism industry and commuters are embracing on-demand mobility solutions, leading to increased demand for lease cars. Big data, IoT technology, machine learning, and blockchain are transforming the industry by providing verified data in real-time, enabling predictive maintenance and efficient transportation systems. Leasing companies offer finance leasing, long-term leasing, and gap insurance to cater to the diverse needs of buyers. The market also includes utility trailers, buses, recreational vehicles, and car equipment rental. Rapid urbanization, busy lifestyles, and population demand have led to the adoption of efficient transportation systems and the reduction of traffic congestion. The used car industry is also benefiting from the growth of the leasing market. Additional fees, carbon emissions, and climate change are becoming important considerations for both sellers and buyers. Leasing companies are focusing on customer service, providing diagnostic services for vehicles, and leveraging technology to enhance the leasing experience. The future of the vehicle leasing market in Europe looks promising, with continued innovation and the integration of technology to meet the evolving needs of consumers.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypePassenger CarsCommercial VehiclesMode Of BookingOnlineOfflineGeographyEurope

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/vehicle-leasing-market-in-europe-to-grow-by-usd-12-17-billion-2024-2028-driven-by-cost-effective-vehicle-access-with-market-evolution-powered-by-ai—technavio-302308576.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Forging New Paths: Alfasigma Group and Fangzhou Inc. Chart a Course for Internet Healthcare

Published

on

By

SHANGHAI, Nov. 19, 2024 /PRNewswire/ — On November 13th, a high-level delegation from the Alfasigma Group, led by Mr. Andriy Samoylovych, Chief Commercial Officer of Global Growth Markets, and Ms. Zhou Qin, General Manager of Alfasigma China, met with Dr. Xie Fangmin, Chairman and CEO of Fangzhou Inc. (“Fangzhou” or the “Company”) (06086.HK), at the Company’s offices in Shanghai. The two companies discussed current trends in China’s Internet healthcare sector, along with potential areas for future collaboration.

Embracing Digital Evolution

The emergence of the Internet and digital technology has expanded the possibilities for Internet healthcare in China. Increasing numbers of patients are looking online for medical services that bring greater convenience and an improved customer experience. “The evolution of Internet hospitals in China is a gradual process that relies not only on technological advancements, but also fundamentally on developing patients’ acceptance of new healthcare delivery models,” elaborated Dr. Xie.

By leveraging an innovative hybrid model which combines initial offline consultations with online follow-ups, Fangzhou has boosted patients’ acceptance and trust in its Internet Hospital services. This model has facilitated more convenient communication between doctors and patients, fostering deeper relationships and engagement, which are crucial to improving patients’ treatment adherence.

Strategic Collaboration to Enhance Healthcare Delivery

Mr. Andriy Samoylovych engaged in a comprehensive discussion with the Fangzhou team, addressing topics such as expanding patient access to innovative drugs, the current landscape of Internet healthcare in China, and the insights gained from Internet based doctor/patient education.

For many years, Fangzhou and Alfasigma Group have engaged in extensive collaboration across multiple therapeutic areas, including cardiovascular health, vascular surgery, nephrology, endocrinology, hepatology, infectious diseases, gastroenterology, and reproductive health. The meeting highlighted the latest achievements of both organizations while outlining directions for future partnership. Fangzhou and Alfasigma Group are eager to work together to drive innovation and enhance the delivery of Internet healthcare.

About Fangzhou Inc.

Fangzhou Inc. (06086.HK) is China’s leading online chronic disease management platform. With 45.6 million registered users and 217,000 registered doctors on its platform (as of June 30, 2024), the Company provides tailored medical care and precision medicine for a growing population of chronic disease patients. For more details, visit https://investors.jianke.com.

About Alfasigma

Alfasigma is an international pharmaceutical company founded in Italy, and operating in over 100 countries worldwide (through direct branches, affiliates and subsidiaries). With more than 75 years of history, Alfasigma has a long track record in the research, development, production and distribution of innovative therapeutic indications. Its product portfolio spans specialty care, primary care and consumer care in five main areas: Gastroenterology, in which it is a leader, Vascular, Rheumatology, Metabolic, Nutraceuticals & Medical foods.

Media Contact
For further inquiries or interviews, please reach out to:
Xingwei Zhao Associate Director of Public Relations Email: pr@jianke.com

Disclaimer: This press release contains forward-looking statements. Actual results may differ materially from those anticipated due to various factors. Readers are cautioned not to place undue reliance on these statements

View original content to download multimedia:https://www.prnewswire.com/news-releases/forging-new-paths-alfasigma-group-and-fangzhou-inc-chart-a-course-for-internet-healthcare-302310791.html

SOURCE Fangzhou Inc.

Continue Reading

Technology

Zupe Announces Wellness Social Network for iOS

Published

on

By

Built for users that value healthspan and featuring artificial intelligence, Zupe offers verified expert content, innovative ways to get trusted advice, and a convenient marketplace featuring a global selection of wellbeing brands.

HONG KONG, Nov. 20, 2024 /PRNewswire/ — Zupe announced the upcoming launch of its wellness super-app. Zupe is a discovery platform—restoring trust in online advice and recommendations—that connects users with verified experts and curated products. Designed for health-forward consumers who are more in touch than ever in knowing what they want, Zupe helps them find what they need and what’s good for them.

Initially launching for iOS, the user-friendly interface intelligently integrates technology to offer a holistic digital ecosystem for health and wellness that prioritises trust and transparency. Users can share ideas, ask questions, contact experts, watch product reviews, and shop for wellness products across a number of categories spanning health, fitness, nutrition, appearance, sleep, sexual wellness, and mindfulness.

Research by the company and market data demonstrates a rising distrust of social media, particularly information and products promoted by content creators. A recent focus group commissioned in early October 2024 by Zupe indicated that 7 in 8 participants between the ages of 24-35 had negative views on obtaining ‘health information by using mainstream social media’.

The Community Feed provides users with a fast and intuitive way to access content from others, engage in discussions, and ask—and answer—questions. Experts, thoughtfully verified by Zupe, can access a dedicated suite of features. This includes options to speak to experts via instant messaging, voice calls, and video conferencing, as well as the ability to recommend products from the Zupe Marketplace to earn a commission. Diversity of thought is encouraged, and real, honest views are essential, reflected in the platform’s core features built around expert opinions and reviews. Zupe’s in-app AI also offers impartial, fact-based insights into expert content.

The Zupe Marketplace carries hundreds of wellbeing products curated from brands across the world. Users can find leading supplements and futuristic devices through to superfoods and sexual wellness products.

Qualified experts users can trust

At a time when almost anyone online can claim to be an expert—often to sell a course or consultation—Zupe combats health washing and misinformation by verifying each individual providing advice on the app. The company uses a two-stage process: candidates are interviewed by Zupe, and their qualifications and social media presence are checked for compliance with expert standards. They are then screened by a third-party background check provider to verify their documentation. Once verified, experts gain access to various dedicated features, including monetisation options and a “Verified Expert” badge.

The platform welcomes a variety of experts, from conventional specialists to alternative practitioners, supported by evidence-based methods and recognised qualifications. Currently, doctors, nurses, and other medically regulated professions are not eligible to be experts on the app due to regulatory rules. Zupe also requires individuals to meet additional standards, such as having a minimum number of years of experience, to be considered an expert.

Experts are encouraged to engage in open, honest and constructive discussion. Zupe’s community standards require experts to support their claims with research or they risk having their content removed.

Chat to experts and ask questions

Expert features—a result of thoughtful software integration—offer users innovative ways to receive paid advice. Users can contact experts via instant messaging, voice calls, or video conferences. Fractional pricing allows users to pay by the minute for most features, enabling short answers and quick advice without significant costs. Users can also contact experts directly for more personalised and extensive advice. The “Ask” function lets anyone pose and answer questions, fostering open discussions with expert responses clearly marked by their “Verified Expert” badge.

A global marketplace of leading wellbeing products

The Zupe Marketplace with its unique shopping experience eliminates frustration over finding the right products for a user’s health goals through the platform’s educational content and intuitive tools.

Today’s consumers no longer trust influencers and see through traditional marketing. Zupe builds trust by allowing real users and verified experts to test, try, and review products on the Marketplace in exchange for honest feedback—empowering them to express their opinions, both positive and negative. This radical honesty fosters trust and helps users make informed purchasing decisions, with reviews discussing product benefits, limitations, and value for money. Recognising the prevalence of sponsored content, Zupe’s approach challenges current practices: brands cannot incentivise experts or users, and moderation ensures compliance with Zupe’s community standards.

The Marketplace brings together hundreds of products from leading global brands including Pure Encapsulations, Researched Nutritionals, and LELO. Zupe takes care of everything—from driving product awareness and seeding products to experts to generating honest content that drives sales and providing business performance insights to brands.

Zupe AI

Zupe AI takes getting accurate health information to a new level by providing objective insights alongside expert content. Coming later, Zupe AI will be able to complement expert features and take action across the app, like asking users questions about their health concerns and then making appropriate product recommendations. Artificial intelligence and generative AI empower users with Zupe’s Retrieval Augmented Generation (RAG) engine, leveraging the latest research and knowledge. Content is enriched with data from Zupe’s proprietary technology to deliver objective, quick, and simple facts. Zupe AI is multimodal, providing intelligent feedback on textual, visual, and audio content. For instance, the Zupe AI can offer a neutral opinion on a post about a nutritional supplement–based on current research. The Zupe AI model is currently available in the Community Feed and in English. 

Get early access

Download Zupe on iOS here.

About Zupe

Zupe is revolutionsing the way consumers pursue optimal health and wellness—with its app for iOS, and, soon, Android and web versions. The Hong Kong-headquartered company is dedicated to innovating the online health experience with plans to enter major global markets.

References:

1 Zhang, Y., Wang, Y., Yongsatianchot, N., Gaggiano, J. D., Suhaimi, N. M., Okrah, A., Kim, M., Griffin, J., & Parker, A. G. (2024). Profiling the dynamics of trust & distrust in social media: A survey study.

Press Contact
tatum@zupe.life 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/zupe-announces-wellness-social-network-for-ios-302310774.html

SOURCE Zupe Group Limited

Continue Reading

Technology

Flexport Appoints Daniel Sanvicente as Senior Vice President, Head of APAC

Published

on

By

SAN FRANCISCO, Nov. 19, 2024 /PRNewswire/ — Flexport, a global leader in supply chain technology, announced today the appointment of Daniel Sanvicente as Senior Vice President, Head of APAC, effective December 2, 2024. Sanvicente will bring more than 25 years of leadership experience and deep expertise in the Asian Pacific region to Flexport, where he will focus on driving growth and strengthening the company’s regional presence.

“Today, more than ever, the Asia Pacific region is a critical hub for global supply chains. Daniel’s deep knowledge of the region and track record of building exceptional teams to help organizations scale effectively will be invaluable as Flexport continues to invest in and expand its presence in the Asia Pacific region,” said Ryan Petersen, Founder & CEO, Flexport.

Sanvicente’s track record in the global logistics industry helped drive growth and operational excellence at some of the world’s largest logistics players. Most recently, he served as Chief Commercial Officer for Asia Pacific at Hellmann Worldwide Logistics, where he built and led a team responsible for some of the organization’s biggest growth drivers. Prior to that, he led commercial strategy for Panalpina Greater China before taking on a leadership role focused on driving sales growth across the APAC region from Singapore. After Panalpina was acquired by DSV in 2019, Sanvicente established and led a newly combined commercial organization spanning 15 countries. He began his career at DB Schenker, where he developed strategic commercial and operational roadmap to scale teams in markets such as Miami, New York, Singapore, and Hong Kong.

“I am excited to embark on my new journey with Flexport. What drew me to Flexport is its vision of leveraging cutting-edge technology to power global trade, which I believe has enormous growth potential. I look forward to working with the world-class teams at Flexport to deliver exceptional value for our customers and to grow our presence across the Asia Pacific region,” said Sanvicente.

Flexport has seen significant growth in APAC in recent years. The company is the seventh largest freight forwarder in the Transpacific Eastbound trade lane and services an extensive global network of ocean freight routes. Flexport has also strengthened its air freight capabilities by operating dedicated freighters that connect key APAC gateways with the U.S. to meet rising demand. In addition to growing its presence in strategic markets such as Greater China and Korea — which have been central to its growth in cross-border e-commerce and other sectors —  Flexport recently announced a partnership with ITL Corporation in Vietnam to further accelerate its expansion in Southeast Asia.

About Flexport
We believe that global trade can move humanity forward. That’s why it’s our mission to make global commerce so easy there will be more of it. Flexport powers your supply chain from factory floor to customer door – making it easy for you to ship anywhere, sell everywhere, and grow faster. Companies of all sizes—from emerging brands to Fortune 500s—used Flexport technology and services to move nearly $33 billion of merchandise across 112 countries in 2023.

View original content to download multimedia:https://www.prnewswire.com/news-releases/flexport-appoints-daniel-sanvicente-as-senior-vice-president-head-of-apac-302310824.html

SOURCE Flexport, Inc.

Continue Reading

Trending